What Is Conveyancing In South African Law?

Conveyancing is the process of transferring property ownership from one person to another. It’s a distinct branch of law in South Africa, with its own rules and regulations that must be followed. Conveyancers are specially trained to deal with this process, which begins when a buyer’s conveyancer receives documentation related to the sale from their seller’s conveyancer. The buyer’s conveyancer then sends an offer to purchase to the seller’s conveyancer, who will sign it if they agree on certain conditions set out in writing (these may include payment methods and timelines). Once this has been ratified by both parties it becomes legally binding—this means that if either party backs out of the contract they could face legal consequences.

South African Conveyancing Law Is A Distinct Branch Of The Law In South Africa.

In South Africa, conveyancing is regulated by the Law Society of South Africa (LSSA). South African conveyancing law is a distinct branch of the law in South Africa. The transfer of property, commonly known as conveyancing, is governed by the Transfer of Property Act (the Act). The function of this law is to ensure that both buyers and sellers are protected during the process of buying or selling property. A person who acts on behalf of another to transfer an interest in the immovable property without being authorized by statute or contract to do so commits an offence under section 37(1) and may be liable for damages if he does not act honestly toward his principal.

Conveyancers must take care when entering into contracts with clients, advising them on their rights and obligations and providing legal advice where necessary with regard to contracts (sections 51–53).

Conveyancers should also assist with the valuation process where required; however, this task tends to be delegated or subcontracted out due to its complexity.

The Conveyancing Process In South Africa.

1. The process begins with the buyer’s conveyancer receiving documentation related to the sale from the seller’s conveyancer. They then inspect this information, make sure that it is correct and appropriate, and confirm that all legal requirements have been met. When this has been done, the buyer’s conveyance file is submitted to a Deed Registrar for registration.
2. In the next step, the seller’s conveyancer sends deeds of the original seller and a letter explaining how the seller has acquired their interest in the property. They also send deeds of transfer, deeds of sale and/or deeds of conveyance to inform you that they have changed your name on their records as well as those of your buyers.
3. An offer to purchase is then drafted by the buyer’s conveyance. This offer to purchase is then drafted by the buyer’s conveyancer, who sends it back to both parties. It is signed by both parties and sent back to your conveyancer. When this happens, an exchange of contracts takes place. This means that the buyer now holds a legally binding contract from you and a sale agreement from them.
4. Once the seller’s conveyancer has received the original copy of your signed contract, they will check that all terms have been met. They must also confirm that you have paid any deposit money required in terms of your contract. If everything checks out, they will then sign it and send it back to you.
5. Signing is an important part of this process as, without a signature, there is no evidence that a contract has been made between two parties or what its details were. For example, if someone signs a leasing agreement for residential property but doesn’t pay their rent on time or breaks any other terms set out by law (such as keeping pets), they may be evicted from their premises by court order after being sued by their landlord (or even face criminal charges).
6. Once this has been ratified, it becomes a legally binding contract for both parties (although it may be cancelled if conditions are not met). The buyer and seller must abide by the terms of the contract or forfeit their deposit or risk losing their home.
7. The contract can be cancelled if the buyer does not pay the deposit or balance in full. It can also be cancelled if there are problems with title deeds, debts or other encumbrances on the property that weren’t disclosed to either party at the time of sale.
8. The deed of transfer is passed from buyer to seller once all conditions have been met. The deed of transfer is the final step in the conveyancing process. It is usually done by a lawyer or notary public and is a legal document that transfers ownership from seller to buyer. The deed of transfer can be cancelled if conditions are not met.
9. The property transfer registration shows that ownership has been completed successfully. It is a legal document, which is filed with the local municipality and becomes a public record. With this in mind, conveyancing attorneys will have no problem locating the title deed or any other documents related to your home or land on their own behalf. Once you have completed your purchase of a piece of property, it is important that you apply for a transfer of ownership through an attorney so that he can ensure all documentation and procedures are followed properly.

Consult With Specialist Conveyancing Attorneys In South Africa Today.

Conveyancing law is a valuable part of the South African legal system. It protects not only your interests as a buyer or seller but also those of all other parties involved in the transaction. If you have any concerns about your property purchase or sale, our team of specialist conveyancing attorneys at PM Attorneys can help you navigate this process smoothly so that it doesn’t become too stressful for either party involved.